The best crypto writing from the last 24 hours.
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- 1
CFTC sues Utah as battle over prediction market regulation intensifies
The CFTC sued Utah to block its enforcement case against Kalshi, escalating the federal-state fight over prediction markets.
- 2
Kalshi Ends Donald Trump Jr.'s Advisor Role: Reuters
Kalshi ended Donald Trump Jr.'s advisor role, mutually, after his firm led a funding round for rival Polymarket.
- 3
Crypto.com, Novig sue Missouri over sports event contracts; Kalshi, Polymarket, Robinhood hold off
Missouri sued Crypto.com and Novig over sports event contracts, while Kalshi, Polymarket and Robinhood have not filed suits. Useful regulatory news for prediction markets.
- 4
Kalshi Users Pour $300 Million Into Stock Perps Within Hours of U.S. Debut
Kalshi users put $300M into stock perpetuals within hours of the U.S. debut, which both the CFTC and SEC oversee.
- 5
Polymarket Cuts Staff and Contractors in Reorganization
Polymarket cuts staff and contractors in a reorganization while revenue reportedly rises and it trails Kalshi.
- 6
Senators Ask White House if Kalshi-Betting Aide Could Get Clemency
Senators pressed the White House over whether a Kalshi-betting aide could receive clemency, with a Nov. 23 deadline for seven ethics questions.
- 7
Elizabeth Warren Plans Prediction Market Crackdown as She Prepares to Chair Senate Banking
Incoming Senate Banking chair Warren plans a crackdown on prediction markets after pressing Kalshi and Polymarket on election trading.
- 8
Kalshi CEO Tarek Mansour Says the Real Choice Is U.S. Prediction Markets or Offshore Ones
Kalshi's CEO argues the real choice is between U.S.-regulated and offshore prediction markets, citing public order flow as a way to catch misconduct. Comes days after the CFTC moved to write event contracts into its swap rules.
Also covered by CoinDesk - 9
California Tribes Win Order Barring Kalshi Sports Contracts on Their Lands
A tribal court order requires Kalshi to report compliance steps within 21 days over sports contracts on California tribal lands.
Also covered by The Block - 10
Kalshi Opens Single-Stock Perpetual Futures Trading
Kalshi opened single-stock perpetual futures on AAPL and AMZN at about 5x leverage while a court challenge looms.
- 11
Coinbase, Kalshi Denied Shield From State Prediction-Market Enforcement
Second Circuit denied Coinbase and Kalshi interim shield from state prediction-market enforcement; existing trading can continue for now.
Also covered by Unchained - 12
Kalshi’s Tradable Midterms Index Settles to Pyth Values
Kalshi's midterms index settles to Pyth price values, a notable oracle and prediction market design.
- 13
Prediction Market Kalshi Now Worth $40 Billion After $1 Billion Round, Eyes Single-Stock Perps
Kalshi raises $1 billion at a $40 billion valuation and plans leveraged contracts and single-stock perps.
Also covered by Cointelegraph, Bankless - 14
Kalshi vs. Polymarket: Who Decides Winners and When Funds Can Leave
Compares how Kalshi and Polymarket decide winning positions and how quickly funds can leave each platform.
- 15
Phantom Starts a Staged US Launch of In-Wallet Prediction Markets
Phantom is staging a US launch of prediction markets through Kalshi accounts, with two cents of fees per contract.
Also covered by The Defiant - 16
NBA becomes third league to sign CFTC prediction market pact, taps Kalshi and Polymarket
The NBA signed a CFTC prediction market pact, naming Kalshi and Polymarket as partners.
- 17
Kalshi strikes deal with S&P Dow Jones Indices to expand financial event contracts
Kalshi signs a deal with S&P Dow Jones Indices to expand financial event contracts.
- 18
Brazil Election Results Spark Debate Over Prediction Markets After Lula Wins at 20% Odds
Polymarket and Kalshi priced a Lula loss at roughly 20% before he won Brazil's runoff, reigniting debate over prediction market accuracy.
- 19
Kalshi Pushes Deeper Into Crypto Derivatives With Bitcoin-Backed Margin Loans
Kalshi Prime clients can now borrow against bitcoin via a BitGo tri-party structure to margin perpetual futures.
Also covered by Unchained - 20
Polymarket US vs. Kalshi: What a 100-Contract Trade Costs
Worked comparison of fees for a 100-contract trade on Polymarket US versus Kalshi, useful for prediction market traders.
- 21
Parlays Drive Kalshi’s $3.9 Billion Trading Days, Analysis Finds
An analysis attributes about 70% of Kalshi weekend notional volume to parlays, though the metric is notional rather than cash spent or new users.
- 22
Kalshi and Polymarket won’t be part of FTC sports gambling probe, report
Report says the FTC sports gambling probe will focus on sportsbooks like DraftKings and FanDuel, not prediction markets Kalshi and Polymarket.
- 23
Kalshi Probes Bets on Trump’s Press Secretary Pick, WSJ Reports
Small suspicious Kalshi wagers preceded the press secretary pick report, raising insider-trading questions on prediction markets.
Also covered by Unchained - 24
U.S. CFTC moves to fold event contracts into swaps regulations as legal fight rages
The CFTC is proposing a rule to treat certain event contracts, including Kalshi's, as swaps under its oversight.